Thailand’s PTTEP Announces 2028 Bussabong Gas Field Plan

BANGKOK – Thailand’s energy landscape is poised for a significant enhancement with the formal decision by PTT Exploration and Production Plc (PTTEP) and its partner Valeura Energy to develop the Bussabong gas field in the Gulf of Thailand. This crucial final investment decision marks a major step forward for the G3/65 Project, aimed at bolstering the nation's energy security. The development is set to bring a vital offshore energy resource online, with first natural gas production firmly targeted for late 2028. Initial output is projected to be 30 million standard cubic feet per day, escalating to 40 million by 2030, a phased approach designed to meet Thailand's growing energy demand while mitigating upfront risks. The Bussabong development will feature the installation of two wellhead platforms, each capable of supporting up to 24 well slots, in water depths ranging from 75 to 90 meters. A nine-kilometer subsea pipeline will connect these platforms directly to the existing central processing platform at the nearby North Bongkot field. Leveraging PTTEP's operational presence at the adjacent site eliminates the need for new processing facilities, enabling a swift and cost-efficient project execution. The entire development process is anticipated to take approximately two years. Building offshore energy platforms from scratch can take many years and cost billions. However, the Bussabong development will use a smarter, faster approach. The initial phase includes installing two wellhead platforms that will support up to 24 well slots each. These structures will be placed in water depths of about 75 to 90 meters. To transport the gas, the team will lay a nine-kilometer subsea pipeline. This pipeline will connect directly to the existing central processing platform at the nearby North Bongkot field. Because PTTEP already operates this neighboring site, no extra processing facilities need to be built. Leveraging this pre-built infrastructure allows the Bussabong gas field project to move forward with incredible speed and financial efficiency. The total development process is expected to take only about two years to complete. Valeura Energy expects its share of the project spending to be roughly $35 million across 2027 and 2028. By keeping costs contained, the partners can ensure a stable and affordable energy supply for the local market. The success of the Bussabong project highlights the strong teamwork between PTTEP and Valeura Energy. PTTEP holds a 60% controlling interest and serves as the primary operator. Meanwhile, Valeura Energy holds the remaining 40% stake after successfully completing a recent farm-in agreement. This marks Valeura’s first organic gas development project within its growing Thailand portfolio. The geological layout of the Bussabong field is quite unique and requires a careful strategy. The underground reservoirs are divided into multiple separated fault-block compartments. Because of this broken-up structure, the companies plan to drill 25 specific development wells during the first phase. This step-by-step approach allows them to learn as they drill and adjust their methods over time. Before making this final decision, the partners relied heavily on existing 3D seismic maps. They also looked at several historic gas discoveries in the area to confirm the field’s rich potential. A highly successful exploration well drilled in 2025 gave them the final confidence needed to move forward with the plan. While the current focus remains heavily on the initial 2028 launch, PTTEP is already looking ahead. The Bussabong field is just one small part of the massive 11,647-square-kilometer G3/65 Project area. The company plans to conduct extensive further exploration activities across this sprawling offshore block. One of the most exciting upcoming targets is the Nong Yao Northeast prospect. PTTEP plans to drill a new exploration well there to properly assess its hidden petroleum potential. If this new well proves successful, it could drastically increase the entire project’s production capacity in the coming decade. Thailand’s upstream energy regulator has already approved the defined production area for Bussabong. This regulatory blessing opens the door for even more phased expansions down the road. Ultimately, this strategic development will play a crucial role in securing Thailand’s energy independence for years to come. Source: Chiang Rai Times